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Forex Trading for Beginners - Facts You Must Accept To Win

By : Kelly Price
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Enclosed you will find some facts that you MUST accept or you won't win at forex trading, so check them out and see if you could succeed in the worlds most excting investment.

1. Markets are Not Scientific

If you think you can win at forex trading by applying science forget it. Scientific theories don't and never will work because humans determine the price of anything and they don't move to scientific criteria!

2. Expect long periods of losses

No matter what system you use you are going top have periods of drawdown that last for weeks or months so get ready for them and be mentally prepared to take them.

3. Currency Trading Is Risky

Most people don't like risk and are duped by vendors who try and tell them they can trade with low risk and make a regular income - Ignore this advice.

Fact is:

The bigger the reward the bigger the risk - risk goes with reward pure and simple. If you don't like taking risks forget forex trading.

4. You can buy success

You will see lots of vendors promising to give you success, but the reality is they can't. Most rely on advertising copy with no evidence they have made any money for themselves!

Don't fall for this, the only person who can give you success is you.

If these vendors could deliver the gains a lot of them claim, they wouldn't need you - they would be to busy making money.

To win you are all on your own and that's no bad thing as we will discuss later.

5. More than 90% lose

Think about it 90% lose so why should you win? If you want to win then you need a "trading edge" Before you start trading think what your edge is and have confidence in it? If you can't think what it is you don't have one!

You may be thinking that's all a bit negative, so let's look at some facts that are positive.

6. You don't need to work hard

You need to work smart - this means not acquiring knowledge for knowledge sake, just getting the right knowledge you need and this wont take long to learn and furthermore:

7. Simple systems work best

A simple system in forex trading will beat a complicated one hands down.

Why?

Because it will be more robust in the face of brutal market conditions, in fact all the best currency trading systems tend to be simple.

8. Everything about currency trading can be learned

You may ask well if that's true why do so many forex traders lose?

The answer is they don't have mental discipline to succeed.

Currency trading is as much if not more so about mindset than just a method.

If you don't have the discipline to follow your method you have no method in the first place. You will have discipline if you develop your own method, you are confident in and that's why no one else can give you success.

9. Take calculated risks and win big

If you accept risk and can take calculated risks at the right time with meaningful amounts, you can win big - this due to the massive leverage at your disposal.

Confronting risk and accepting it, is one of the keys to successful currency trading.

10. Forex trading is simple

In fact it's a lot simpler than many traders believe and you don't need a university degree to win - the opportunity is open to all.

Just keep in mind to work at acquiring the right knowledge, accept risk, rely on yourself, have mental discipline and you can become a winner in the worlds most exciting and lucrative investment medium

About the author:
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